This is not the first time that something like this is happening to Facebook. The Social Networking Site has faced a down run since they announced the IPO. Soon after the lock down period PayPal co-founder and Facebook director Peter Thiel who has been one of the early investor in the social network had sold off about 20 million shares and now it is Dustin Moskovitz, Dustin had started selling off 150,000 shares a day and disclosed the sales every three days. After Including the most recent sales that he made he still holds about 132 million shares.
Dustin Moskovitz who is 28 was Mark Zuckerberg’s Harvard roommate when they founded Facebook in 2004. He had left in 2008 and started the software company Asana. Asana is the shared task list for your team. The place to plan, organize and stay in sync on your efforts. In March 2011 Forbes ranked Moskovitz as the world’s youngest self-made billionaire on the basis of his 7.6% share in Facebook which certainly has gone down after the sales he has made on stocks.
FB shares have seen a down run since Shares of Facebook Inc. since it debut at $38 each in May. They ended Tuesday’s trading at $17.73 which was the lowest that the Facebook stock faced.